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The Zacks Analyst Blog Highlights Fortinet, VMware, IB, Infosys and Palo Alto

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For Immediate Release

Chicago, IL – October 7, 2022 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Fortinet Inc. (FTNT - Free Report) , VMware (VMW - Free Report) , IBM Corp. (IBM - Free Report) , Infosys (INFY - Free Report) and Palo Alto (PANW - Free Report) .

Here are highlights from Thursday’s Analyst Blog:

5 Cloud Security Stocks to Enhance Returns Through the End of 2022

With cloud threats increasing rapidly, all industries need to evaluate their security. Enterprises are safeguarding themselves with cloud-centric security solutions to protect against threat channels attempting to exploit the weaknesses in cloud deployments.

Cloud computing has emerged as an ally for enterprises on the back of digital transformation and strong demand for cybersecurity offerings as well as the heightening need for secure networks and cloud-based applications amid the pandemic-induced remote-working and online learning wave.

The major factors fueling the cloud security market include the growing sophistication of cybercrimes, cyber espionage campaigns, generation of new cyberattacks, upthrust in the use of cloud-based solutions and an upsurge in Bring Your Own Device and Choose Your Own Device trends to boost the demand for cloud security.

Moreover, increasing government initiatives to support smart infrastructure projects and secure online payment applications, social media and OS would provide lucrative opportunities for cloud security vendors including Fortinet Inc., VMware, IBM Corp., Infosys and Palo Alto.

Per a recent SkyQuest report, the global cloud security market size was valued at $28.47 billion in 2021. It is expected to reach a value of $82.77 billion by 2028, at a CAGR of more than 16.47% over the forecast period (2022-2028).

Our Picks

Let's thus take a closer look at some notable cloud security stocks that could enhance returns in the rest of 2022.

Fortinet is a provider of network security appliances and Unified Threat Management (UTM) network security solutions to enterprises, service providers and government entities worldwide. It is benefiting from rising demand for security and networking products amid the coronavirus crisis as a huge global workforce is working remotely.

This Zacks Rank #2 (Buy) company is also benefiting from robust growth in Fortinet Security Fabric, cloud and Software-defined Wide Area Network (SD-WAN) offerings. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

In June, the company announced the launch of a new security solution for Multi-Cloud, Fortinet Secure SD-WAN. This solution complements the company's existing Secure SD-WAN Cloud On-Ramp abilities and helps businesses and users establish a secure connection with cloud solutions and cloud applications.

The consensus mark for Fortinet's 2022 earnings has remained steady at $1.05 per share in the past 30 days.

VMware's offerings in domains such as SDDC, hybrid cloud and EUC have increased its market share. The inclusion of the Carbon Black solution enables VMware's existing security portfolio to reduce the attack surface and develop deep protection across applications, endpoints and infrastructure, radically and uniquely.

In June, the company launched Contexa, a threat intelligence cloud that discovers lateral network traffic. The new technology will be available across all its security offerings for existing and new customers. VMware claims that Contexa is more likely to discover lateral network traffic than current security information and event management and extended detection and response solutions.

In situations where workloads need to remain on-premise, VMware workloads are now supported by IBM Cloud Satellite. With the help of IBM Cloud Satellite, a unified and secured layer of cloud-based services is available to clients.

The consensus mark for VMware's 2022 earnings has remained steady at $6.52 per share in the past 30 days.

International Business Machines spun off its legacy Managed Infrastructure Service business to accelerate its hybrid cloud growth strategy with a focus on accelerated digital transformation. Its growth is anticipated to be primarily driven by security, cloud computing and analytics in the long run.

The company recently inked an agreement with Bharti Airtel for an undisclosed amount to deploy an edge computing platform in India. This is likely to extend the secured cloud services for business enterprises while improving their performance through reduced latency and higher data security features.

The consensus mark for IBM's 2022 earnings has remained steady at $9.39 per share in the past 60 days.

Infosys-owned Cyber Next is a security-as-a-service ecosystem that enables enterprises to leverage pre-built, scalable infrastructure security platforms that can be extended for enterprise-specific requirements on security monitoring, security analytics, threat intelligence and advanced security controls such as Endpoint Detection and Response, deception technology and malware analysis.

In collaboration with Palo Alto Networks, Infosys will secure Bpost's cloud environment by monitoring and utilizing advanced threat-hunting capabilities through its Cyber Next solution portfolio. It will aid the European parcel operator to enhance its Azure and AWS cloud security posture.

The consensus mark for Infosys' 2022 earnings has remained steady at 72 cents per share in the past 30 days.

Palo Alto offers Cortex XSOAR solution, a comprehensive security orchestration, automation and response platform. Its fully automated response playbooks and artificial intelligence-led predictions will protect Bpost from threats and strengthen its cloud security.

Palo Alto's Cortex XSOAR unifies case management, automation, real-time collaboration and threat intel management to serve security teams across the incident lifecycle. With Cortex XSOAR, security teams build future-proof security operations to reduce mean time to restore and create consistent and audited incident management processes and increase analyst productivity.

The consensus mark for Palo Alto's 2022 earnings has remained steady at $3.15 per share in the past 30 days.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release.

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